Business identification issuance should be fair

Ensuring transparency and accountability is now the biggest challenge for businesses and services. We are moving towards a better-connected world and changed business landscape marked by huge online dependency.

We have already witnessed an e-commerce boom in Bangladesh. But the development was largely tainted by fraud and irregularities. Besides, there has been a serious lack of transparency and accountability. While some major market players have made remarkable progress on these two topics, others were in a very disturbing position.

Against the backdrop, the launching of the Digital Business Identification Number (DBID) will improve the situation. The process will help shake off issues stemming from registration of online businesses. At the same time, it will help online businesses expand with bank borrowing, obtain licences and retain customer confidence.

We estimate about five lakh people will be employed in the e-commerce sector by 2025. Foreign investment to the sector will be more likely if we can fix the delivery issues promptly.     

But we need to make sure that those who are issuing the digital business identification number keep their position clean and decent. The appreciable initiative will collapse if the issuance is carried out haphazardly or under the influence of any persuasion – pushing the e-commerce sector into further trouble.

There are several major festivals ahead when the traders will jump in to clock big sales. The main goal should be now managing the entire process properly for the sake of the country's e-commerce sector. Hopefully, this definite and well thought out move by the government will help our e-commerce business stride ahead.

Mousumi Islam is the President of Association of Grassroots Women Entrepreneurs Bangladesh